鲜花( 0) 鸡蛋( 0)
|
Thu, April 12, 2007
: p8 y, \' }( T, Z
) A' n4 ]# O/ d: `Calgary ranks sixth as most expensive downtown housing
/ y: M1 h/ Y0 B4 g: _UPDATED: 2007-04-12 16:38:42 MST+ V% U2 C+ k8 A7 A9 n& G
6 W. F! j# I! g" V' e) \+ V" F) k' E6 G) F
By NADIA MOHARIB, SUN MEDIA. X1 O# w4 r1 a& ~0 ]
: L/ d+ ] M* X& s$ p, m 8 U# i# p5 N1 L7 `! C3 C5 v
More and more Calgarians are buying downtown homes but paying top price for the prime location.
% T* j2 X; h/ P: n! a% k0 I9 j/ G" \. r! \( r
People who live in downtown business districts in Canada’s largest cities generally pay less per-square foot than people in cities around the world and enjoy shorter daily commutes to work, according to a recent survey done on first-time home buyers by CENTURY 21. " N N$ Z5 t- x7 G" O1 M
) z/ |) I3 V( B7 E2 |
Calgary ranks sixth most expensive of 31 cities surveyed around the world.
: F0 E% C# j! T2 F& f5 F
! b3 z/ E4 E$ T- b5 ?" D! N0 WThe cost to buy in Calgary’s downtown is even more than settling in Toronto’s core which ranked 16th in the survey with the average cost running $209 per sq. ft. * x# A! m; d: u
' S' q, P+ i. R5 |8 d5 E
George Bamber, owner of a Calgary-based Century 21 said it’s a sign of a city maturing and becoming more like Vancouver or Toronto where downtown is a place where people live and work.“You just get more real estate for your money outside of downtown,” he said.
, M6 U! Q/ ~& z D
5 i. C9 C+ w* D+ ~9 O“To live downtown people pay for it.”
* Q* `+ J( R7 M) | I1 ^, x( i# u& Q3 F' ~% {2 s/ u7 d
A condo in southwood for instance would run about $323 a sq. ft while downtown goes for about $500.
$ E2 J4 ^: f, L7 T
% o* Z! U, O; n
; f6 v$ j' }4 K, c- [Still Bamber said the interest in downtown living only seems to be getting more popular — a sign Calgary is “getting to be more like a big city.”
8 p& C! w5 `2 M w6 b
3 e; r) Y1 T- d7 V, nPart of the attraction is affordability but also people wanting to buy in to a certain lifestyle, Bamber said. # ^- j/ Y" `6 W) T' E
$ [) D: l1 k6 s/ R; }& ~
“People want to be close to restaurants and bars and don’t want to drive an hour to work,” he said. 4 P) A: m4 c" q0 q* \
7 t* \( P1 ^- l+ e8 T, j
He said 30 % of the housing market is condos - the bulk of which are in downtown.
/ x! k4 U. z) _! i4 |4 r6 K* U" b. R* T! C9 s
The survey showed Vancouver placing fourth most expensive at $577 per sq. ft. while Edmonton was 10th most expensive at $322. 2 N+ |; l% w% G% q
! _- n* V' K' X( p* }7 cIn Calgary, a typical first-time buyer would choose a one-bedroom, one-bath 500-sq. ft. apartment in Mission or Connaught priced at about $250,000 and a 10-minute drive or 20-minute walk to the downtown business core and the Calgary Tower. 4 j" `" o+ g Q1 S
! Y" b9 G( ?) x5 X% A% t+ _& h8 L g0 }While those looking for life in the suburbs and a better bang for their buck typically see a significant cost savings.
- x0 F w7 [$ h/ [2 K8 T' S- U/ v6 a0 `+ V
A 650 sq. ft condo in Southwood, Bamber said, recently sold for about $323 per square foot, for instance. 5 H" |# v$ ?, L
9 p- n4 E% I V5 \0 Y% g& @! S8 `FAST FAX
8 r1 F; q z5 I- ?0 @ k% p9 i- N U2 a5 \
- St. John’s and Quebec City had the lowest and second-lowest per-square-foot downtown prices of all 31 cities surveyed, at $55 and $93 respectively.— The two lowest per-square-foot prices for international cities were Istanbul, Turkey and Sydney, Australia, at $94 and $105 respectively.
0 c, o. J, F& S! `* C5 A/ B, w% }* n( \" `# g5 `
— Vancouver was fourth most expensive at $577 per square foot while Calgary was sixth most expensive at $500 and Edmonton was 10th most expensive at $322 — Globally Paris was the most expensive at $1,051 per square foot while London was fifth most expensive at $532 and New York was eighth most expensive at $375 The 10 least expensive downtown housing markets as ranked per-square-foot for first-time buyers are; St. John’s $55 Quebec City $93 Istanbul $94 Halifax $97 Charlottetown $104 Sydney, Australia $105 Bogota $114 Mexico City $119 9 J5 p$ {1 ^& |) k
& Q* G" ]; a* b- r4 r( U; H" V
The 10 most expensive downtown housing markets; Paris $1051 Moscow $688 Seol $630 Vancouver $577 London, England $532 Calgary $500 Athens $375 New York City $375 Tokyo, $325 Edmonton $322. |
|